Manhattan Associates (NASDAQ:MANH) Shares Gap Down – What’s Next?

Manhattan Associates, Inc. (NASDAQ:MANH)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $292.32, but opened at $280.00. Manhattan Associates shares last traded at $268.98, with a volume of 145,894 shares traded.

Analysts Set New Price Targets

Several analysts have recently issued reports on MANH shares. Truist Financial increased their price objective on Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Robert W. Baird raised their target price on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a report on Tuesday. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Citigroup raised their price objective on shares of Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Finally, Raymond James boosted their target price on shares of Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $286.38.

Manhattan Associates Stock Performance

The business has a 50-day simple moving average of $274.55 and a two-hundred day simple moving average of $246.77. The company has a market capitalization of $16.84 billion, a price-to-earnings ratio of 89.38 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, topping the consensus estimate of $1.06 by $0.29. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. The company had revenue of $266.70 million during the quarter, compared to analysts’ expectations of $262.90 million. During the same quarter last year, the business earned $0.79 EPS. The business’s revenue was up 11.9% on a year-over-year basis. Research analysts predict that Manhattan Associates, Inc. will post 3.01 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP James Stewart Gantt sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $256.50, for a total value of $1,539,000.00. Following the sale, the executive vice president now owns 46,287 shares in the company, valued at $11,872,615.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.72% of the stock is owned by insiders.

Hedge Funds Weigh In On Manhattan Associates

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Manhattan Associates by 0.9% during the first quarter. Vanguard Group Inc. now owns 6,671,321 shares of the software maker’s stock worth $1,669,365,000 after buying an additional 58,905 shares in the last quarter. TD Asset Management Inc raised its holdings in Manhattan Associates by 10.5% in the 1st quarter. TD Asset Management Inc now owns 607,167 shares of the software maker’s stock valued at $151,931,000 after acquiring an additional 57,859 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Manhattan Associates by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 604,115 shares of the software maker’s stock worth $149,023,000 after purchasing an additional 2,156 shares during the period. RGM Capital LLC boosted its holdings in shares of Manhattan Associates by 4.1% during the second quarter. RGM Capital LLC now owns 583,037 shares of the software maker’s stock worth $143,824,000 after purchasing an additional 23,000 shares during the last quarter. Finally, Bessemer Group Inc. grew its position in shares of Manhattan Associates by 0.3% in the first quarter. Bessemer Group Inc. now owns 561,901 shares of the software maker’s stock valued at $140,604,000 after purchasing an additional 1,757 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Company Profile

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It offers Warehouse Management Solution for managing goods and information across the distribution centers; Manhattan Active Warehouse Management, a cloud native and version less application for the associate; and Transportation Management Solution for helping shippers navigate their way through the demands and meet customer service expectations at the lowest possible freight costs; Manhattan SCALE, a portfolio of logistics execution solution; and Manhattan Active Omni, which offers order management, store inventory and fulfillment, POS, and customer engagement tools for enterprises and stores.